The average annual salary of employees is 200,000! The net profit of this big seller soared 7.6 times

Last December, VeSync, the parent company of Shenzhen-based Morning North Technology, was listed on the Hong Kong Stock Exchange. Morning North Technology is well-known in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, far ahead of others in the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce giant with a market value second only to Anker, and is a veritable new star in the industry.

VeSync becomes the dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 financial report. Not only did its revenue double, but its net profit also soared 7.6 times, with impressive performance:

The company's annual revenue was US$349 million (approximately RMB 2.29 billion), a year-on-year increase of 103.0%; gross profit was US$152 million (approximately RMB 997 million), a year-on-year increase of 126.7%, and gross profit margin was 43.7%; profit attributable to the parent company's owners was US$54.723 million (approximately RMB 360 million), a year-on-year increase of 758.8%.

VeSync's value has already emerged. At the end of March, industry insider "Uncle Bo Yi" compared some of the top sellers, including sales and market valuations in 2020, in an attempt to compare the value of distributors and brand sellers, and Morning North Technology ranked high.

In fact, VeSync's total market value has reached HK$16.989 billion, or about RMB 14.3 billion, an 80% increase from when it was first listed. Among the listed cross-border e-commerce giants, its market value is second only to Anker, and exceeds Cross-border Link (7.4 billion) and the parent companies of Youkeshu, Zebao, Tongtuo, and Jiazhilian. This counterattack has made industry sellers give a thumbs up.

VeSync has been widely praised, thanks in large part to its business model.

Timely adjustment of strategies, air purifiers and other home appliances play a leading role

VeSync mainly designs, develops and sells three core brands. Levoit focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines; Etekcity focuses on smart small appliances, health monitoring equipment, outdoor entertainment products and personal care products; and Cosori focuses on kitchen appliances and dining utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensified, VeSync adjusted its product strategy to focus on premium products such as air purifiers and air fryers, which have higher gross profit margins.

In 2017, Etekcity brand products contributed 77.7% of the company's revenue, while Levoit only contributed 17.2%. By the first half of 2020, Etekcity's revenue share had dropped to 28.2%, while Levoit's had increased to 46.7%. The two brands have swapped roles, with Levoit becoming the company's largest and most profitable brand. In addition, Cosori's revenue share has also increased from 4.2% to 25%.

(Photo from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, respectively, laying a solid market foundation for subsequent sales. VeSync's revenue doubled in 2020, attributed to strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity weight scales and smart body fat scales.

The epidemic has made home product sellers winners, and VeSync is one of them.

Sales of the company's outdoor products, such as air mattresses and camping lanterns, declined as the United States implemented stay-at-home orders and other lockdown measures; however, buyers spent more time shopping online, and demand and revenue for home products increased, which partially offset the decline in outdoor products and ultimately increased VeSync's annual revenue to approximately US$350 million, winning a good battle.

According to CICC, VeSync's revenue will increase by 70% and 42% year-on-year in 2021-2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Big sales on the platform: about 96% of the revenue comes from Amazon

VeSync mainly sells products online and is highly dependent on Amazon, making it a veritable platform seller.

In 2020, VeSync's revenue from Amazon's Seller Central program was $102 million, an increase of 166.7%, and its revenue from the Vendor Central program was $233 million, an increase of 23.0%. The revenue that big sellers get from VC is so high that it will probably arouse the envy of many peers!

In 2020, VeSync generated approximately $335 million in revenue from Amazon, accounting for approximately 96% of its total annual sales.

It is worth noting that for the past three consecutive years, VeSync has generated more than 99% of its revenue on Amazon.

In 2017, 2018, 2019 and the year ended 2019, the company generated revenue of approximately US$84.7 million, US$144 million and US$171 million through Amazon, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its sales in North America reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to the impressive performance, big sellers also face the same problems as other third-party small and medium-sized sellers. Selling through the Amazon platform incurs a considerable amount of commissions, returns, logistics costs, etc.

In 2020, VeSync incurred $8.5 million in refund liabilities from sales returns and promotional rebates, of which $7.9 million was from promotional rebates. At the same time, the company's finished goods inventory reached $99.53 million, nearly $100 million!

In the past year, VeSync's fulfillment costs on Amazon reached $17.66 million; the platform's sales commission was $17.18 million; and marketing and advertising expenses reached $12.27 million. The contribution to my brother-in-law is huge!

In terms of research and development, this big seller also invests a lot. In 2020, VeSync's research and development costs reached 10.46 million US dollars.

The average annual salary of employees is 200,000 yuan, and VeSync's salary expenditure has increased significantly

A fast-growing company cannot do without the efforts of its employees. In 2020, VeSync spent $20.83 million on employee salaries, a significant increase from $13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync has a total of 693 employees, of which 583 are located in China, 105 are in the United States, and the other 5 are in other regions. Roughly calculated, the average annual salary of VeSync employees is about US$30,000, equivalent to nearly 200,000 yuan.

The Company believes that the ability to recruit and retain experienced employees is critical to the Company's development and growth, and it also provides training opportunities for new employees.

VeSync recently announced that it is recruiting 2021 graduates from home and abroad. The recruitment targets of this big seller mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade and expand the product portfolio;

Leverage brand awareness to expand geographic coverage and sales channels;

Continue to invest in technology and strive to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance its product portfolio in the consumer field, especially smart home devices .

With a high proportion of sales in North America, VeSync still plans to expand its market share in existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators such as Amazon, other well-known US chain retailers that sell smart home devices and small appliances, such as Walmart, Best Buy, Target and Bed Bath & Beyond. In addition, VeSync also plans to increase sales on its own website and expand the sales products of VeSync applications. Deepen the field you are familiar with.

Last December, VeSync, the parent company of Shenzhen-based Morning North Technology, was listed on the Hong Kong Stock Exchange. Morning North Technology is well-known in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, far ahead of others in the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce giant with a market value second only to Anker, and is a veritable new star in the industry.

VeSync becomes the dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 financial report. Not only did its revenue double, but its net profit also soared 7.6 times, with impressive performance:

The company's annual revenue was US$349 million (approximately RMB 2.29 billion), a year-on-year increase of 103.0%; gross profit was US$152 million (approximately RMB 997 million), a year-on-year increase of 126.7%, and gross profit margin was 43.7%; profit attributable to the parent company's owners was US$54.723 million (approximately RMB 360 million), a year-on-year increase of 758.8%.

VeSync's value has already emerged. At the end of March, industry insider "Uncle Bo Yi" compared some of the top sellers, including sales and market valuations in 2020, in an attempt to compare the value of distributors and brand sellers, and Morning North Technology ranked high.

In fact, VeSync's total market value has reached HK$16.989 billion, or about RMB 14.3 billion, an 80% increase from when it was first listed. Among the listed cross-border e-commerce giants, its market value is second only to Anker, and exceeds Cross-border Link (7.4 billion) and the parent companies of Youkeshu, Zebao, Tongtuo, and Jiazhilian. This counterattack has made industry sellers give a thumbs up.

VeSync has been widely praised, thanks in large part to its business model.

Timely adjustment of strategies, air purifiers and other home appliances play a leading role

VeSync mainly designs, develops and sells three core brands. Levoit focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines; Etekcity focuses on smart small appliances, health monitoring equipment, outdoor entertainment products and personal care products; and Cosori focuses on kitchen appliances and dining utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensified, VeSync adjusted its product strategy to focus on premium products such as air purifiers and air fryers, which have higher gross profit margins.

In 2017, Etekcity brand products contributed 77.7% of the company's revenue, while Levoit only contributed 17.2%. By the first half of 2020, Etekcity's revenue share had dropped to 28.2%, while Levoit's had increased to 46.7%. The two brands have swapped roles, with Levoit becoming the company's largest and most profitable brand. In addition, Cosori's revenue share has also increased from 4.2% to 25%.

(Photo from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, respectively, laying a solid market foundation for subsequent sales. VeSync's revenue doubled in 2020, attributed to strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity weight scales and smart body fat scales.

The epidemic has made home product sellers winners, and VeSync is one of them.

Sales of the company's outdoor products, such as air mattresses and camping lanterns, declined as the United States implemented stay-at-home orders and other lockdown measures; however, buyers spent more time shopping online, and demand and revenue for home products increased, which partially offset the decline in outdoor products and ultimately increased VeSync's annual revenue to approximately US$350 million, winning a good battle.

According to CICC, VeSync's revenue will increase by 70% and 42% year-on-year in 2021-2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Big sales on the platform: about 96% of the revenue comes from Amazon

VeSync mainly sells products online and is highly dependent on Amazon, making it a veritable platform seller.

In 2020, VeSync's revenue from Amazon's Seller Central program was $102 million, an increase of 166.7%, and its revenue from the Vendor Central program was $233 million, an increase of 23.0%. The revenue that big sellers get from VC is so high that it will probably arouse the envy of many peers!

In 2020, VeSync generated approximately $335 million in revenue from Amazon, accounting for approximately 96% of its total annual sales.

It is worth noting that for the past three consecutive years, VeSync has generated more than 99% of its revenue on Amazon.

In 2017, 2018, 2019 and the year ended 2019, the company generated revenue of approximately US$84.7 million, US$144 million and US$171 million through Amazon, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its sales in North America reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to the impressive performance, big sellers also face the same problems as other third-party small and medium-sized sellers. Selling through the Amazon platform incurs a considerable amount of commissions, returns, logistics costs, etc.

In 2020, VeSync incurred $8.5 million in refund liabilities from sales returns and promotional rebates, of which $7.9 million was from promotional rebates. At the same time, the company's finished goods inventory reached $99.53 million, nearly $100 million!

In the past year, VeSync's fulfillment costs on Amazon reached $17.66 million; the platform's sales commission was $17.18 million; and marketing and advertising expenses reached $12.27 million. The contribution to my brother-in-law is huge!

In terms of research and development, this big seller also invests a lot. In 2020, VeSync's research and development costs reached 10.46 million US dollars.

The average annual salary of employees is 200,000 yuan, and VeSync's salary expenditure has increased significantly

A fast-growing company cannot do without the efforts of its employees. In 2020, VeSync spent $20.83 million on employee salaries, a significant increase from $13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync has a total of 693 employees, of which 583 are located in China, 105 are in the United States, and the other 5 are in other regions. Roughly calculated, the average annual salary of VeSync employees is about US$30,000, equivalent to nearly 200,000 yuan.

The Company believes that the ability to recruit and retain experienced employees is critical to the Company's development and growth, and it also provides training opportunities for new employees.

VeSync recently announced that it is recruiting 2021 graduates from home and abroad. The recruitment targets of this big seller mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade and expand the product portfolio;

Leverage brand awareness to expand geographic coverage and sales channels;

Continue to invest in technology and strive to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance its product portfolio in the consumer field, especially smart home devices .

With a high proportion of sales in North America, VeSync still plans to expand its market share in existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators such as Amazon, other well-known US chain retailers that sell smart home devices and small appliances, such as Walmart, Best Buy, Target and Bed Bath & Beyond. In addition, VeSync also plans to increase sales on its own website and expand the sales products of VeSync applications. Deepen the field you are familiar with.

Last December, VeSync, the parent company of Shenzhen-based Morning North Technology, was listed on the Hong Kong Stock Exchange. Morning North Technology is well-known in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, far ahead of others in the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce seller with a market value second only to Anker, and is a veritable new star in the industry.

VeSync becomes the dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 financial report. Not only did its revenue double, but its net profit also soared 7.6 times, with impressive performance:

The company's annual revenue was US$349 million (approximately RMB 2.29 billion), a year-on-year increase of 103.0%; gross profit was US$152 million (approximately RMB 997 million), a year-on-year increase of 126.7%, and gross profit margin was 43.7%; profit attributable to the parent company's owners was US$54.723 million (approximately RMB 360 million), a year-on-year increase of 758.8%.

VeSync's value has already emerged. At the end of March, industry insider "Uncle Bo Yi" compared some of the top sellers, including sales and market valuations in 2020, in an attempt to compare the value of distributors and brand sellers, and Morning North Technology ranked high.

In fact, VeSync's total market value has reached HK$16.989 billion, or about RMB 14.3 billion, an 80% increase from when it was first listed. Among the listed cross-border e-commerce giants, its market value is second only to Anker, and exceeds Cross-border Link (7.4 billion) and the parent companies of Youkeshu, Zebao, Tongtuo, and Jiazhilian. This counterattack has made industry sellers give a thumbs up.

VeSync has been widely praised, thanks in large part to its business model.

Timely adjustment of strategies, air purifiers and other home appliances play a leading role

VeSync mainly designs, develops and sells three core brands. Levoit focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines; Etekcity focuses on smart small appliances, health monitoring equipment, outdoor entertainment products and personal care products; and Cosori focuses on kitchen appliances and dining utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensified, VeSync adjusted its product strategy to focus on premium products such as air purifiers and air fryers, which have higher gross profit margins.

In 2017, Etekcity brand products contributed 77.7% of the company's revenue, while Levoit only contributed 17.2%. By the first half of 2020, Etekcity's revenue share had dropped to 28.2%, while Levoit's had increased to 46.7%. The two brands have swapped roles, with Levoit becoming the company's largest and most profitable brand. In addition, Cosori's revenue share has also increased from 4.2% to 25%.

(Photo from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, respectively, laying a solid market foundation for subsequent sales. VeSync's revenue doubled in 2020, attributed to strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity weight scales and smart body fat scales.

The epidemic has made home product sellers winners, and VeSync is one of them.

Sales of the company's outdoor products, such as air mattresses and camping lanterns, declined as the United States implemented stay-at-home orders and other lockdown measures; however, buyers spent more time shopping online, and demand and revenue for home products increased, which partially offset the decline in outdoor products and ultimately increased VeSync's annual revenue to approximately US$350 million, winning a good battle.

According to CICC, VeSync's revenue will increase by 70% and 42% year-on-year in 2021-2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Big sales on the platform: about 96% of the revenue comes from Amazon

VeSync mainly sells products online and is highly dependent on Amazon, making it a veritable platform seller.

In 2020, VeSync's revenue from Amazon's Seller Central program was $102 million, an increase of 166.7%, and its revenue from the Vendor Central program was $233 million, an increase of 23.0%. The revenue that big sellers get from VC is so high that it will probably arouse the envy of many peers!

In 2020, VeSync generated approximately $335 million in revenue from Amazon, accounting for approximately 96% of its total annual sales.

It is worth noting that for the past three consecutive years, VeSync has generated more than 99% of its revenue on Amazon.

In 2017, 2018, 2019 and the year ended 2019, the company generated revenue of approximately US$84.7 million, US$144 million and US$171 million through Amazon, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its sales in North America reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to the impressive performance, big sellers also face the same problems as other third-party small and medium-sized sellers. Selling through the Amazon platform incurs a considerable amount of commissions, returns, logistics costs, etc.

In 2020, VeSync incurred $8.5 million in refund liabilities from sales returns and promotional rebates, of which $7.9 million was from promotional rebates. At the same time, the company's finished goods inventory reached $99.53 million, nearly $100 million!

In the past year, VeSync's fulfillment costs on Amazon reached $17.66 million; the platform's sales commission was $17.18 million; and marketing and advertising expenses reached $12.27 million. The contribution to my brother-in-law is huge!

In terms of research and development, this big seller also invests a lot. In 2020, VeSync's research and development costs reached 10.46 million US dollars.

The average annual salary of employees is 200,000 yuan, and VeSync's salary expenditure has increased significantly

A fast-growing company cannot do without the efforts of its employees. In 2020, VeSync spent $20.83 million on employee salaries, a significant increase from $13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync has a total of 693 employees, of which 583 are located in China, 105 are in the United States, and the other 5 are in other regions. Roughly calculated, the average annual salary of VeSync employees is about US$30,000, equivalent to nearly 200,000 yuan.

The Company believes that the ability to recruit and retain experienced employees is critical to the company's development and growth, and it also provides training opportunities for new employees.

VeSync recently announced that it is recruiting 2021 graduates from home and abroad. The recruitment targets of this big seller mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade and expand the product portfolio;

Leverage brand awareness to expand geographic coverage and sales channels;

Continue to invest in technology and strive to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance its product portfolio in the consumer field, especially smart home devices .

With a high proportion of sales in North America, VeSync still plans to expand its market share in existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators such as Amazon, other well-known US chain retailers that sell smart home devices and small appliances, such as Walmart, Best Buy, Target and Bed Bath & Beyond. In addition, VeSync also plans to increase sales on its own website and expand the sales products of VeSync applications. Deepen the field you are familiar with.

Last December, VeSync, the parent company of Shenzhen-based Morning North Technology, was listed on the Hong Kong Stock Exchange. Morning North Technology is well-known in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, far ahead of others in the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce giant with a market value second only to Anker, and is a veritable new star in the industry.

VeSync becomes the dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 financial report. Not only did its revenue double, but its net profit also soared 7.6 times, with impressive performance:

The company's annual revenue was US$349 million (approximately RMB 2.29 billion), a year-on-year increase of 103.0%; gross profit was US$152 million (approximately RMB 997 million), a year-on-year increase of 126.7%, and gross profit margin was 43.7%; profit attributable to the parent company's owners was US$54.723 million (approximately RMB 360 million), a year-on-year increase of 758.8%.

VeSync's value has already emerged. At the end of March, industry insider "Uncle Bo Yi" compared some of the top sellers, including sales and market valuations in 2020, in an attempt to compare the value of distributors and brand sellers, and Morning North Technology ranked high.

In fact, VeSync's total market value has reached HK$16.989 billion, or about RMB 14.3 billion, an 80% increase from when it was first listed. Among the listed cross-border e-commerce giants, its market value is second only to Anker, and exceeds Cross-border Link (7.4 billion) and the parent companies of Youkeshu, Zebao, Tongtuo, and Jiazhilian. This counterattack has made industry sellers give a thumbs up.

VeSync has been widely praised, thanks in large part to its business model.

Timely adjustment of strategies, air purifiers and other home appliances play a leading role

VeSync mainly designs, develops and sells three core brands. Levoit focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines; Etekcity focuses on smart small appliances, health monitoring equipment, outdoor entertainment products and personal care products; and Cosori focuses on kitchen appliances and dining utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensified, VeSync adjusted its product strategy to focus on premium products such as air purifiers and air fryers, which have higher gross profit margins.

In 2017, Etekcity brand products contributed 77.7% of the company's revenue, while Levoit only contributed 17.2%. By the first half of 2020, Etekcity's revenue share had dropped to 28.2%, while Levoit's had increased to 46.7%. The two brands have swapped roles, with Levoit becoming the company's largest and most profitable brand. In addition, Cosori's revenue share has also increased from 4.2% to 25%.

(Photo from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, respectively, laying a solid market foundation for subsequent sales. VeSync's revenue doubled in 2020, attributed to strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity weight scales and smart body fat scales.

The epidemic has made home product sellers winners, and VeSync is one of them.

Sales of the company's outdoor products, such as air mattresses and camping lanterns, declined as the United States implemented stay-at-home orders and other lockdown measures; however, buyers spent more time shopping online, and demand and revenue for home products increased, which partially offset the decline in outdoor products and ultimately increased VeSync's annual revenue to approximately US$350 million, winning a good battle.

According to CICC, VeSync's revenue will increase by 70% and 42% year-on-year in 2021-2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Big sales on the platform: about 96% of the revenue comes from Amazon

VeSync mainly sells products online and is highly dependent on Amazon, making it a veritable platform seller.

In 2020, VeSync's revenue from Amazon's Seller Central program was $102 million, an increase of 166.7%, and its revenue from the Vendor Central program was $233 million, an increase of 23.0%. The revenue that big sellers get from VC is so high that it will probably arouse the envy of many peers!

In 2020, VeSync generated approximately $335 million in revenue from Amazon, accounting for approximately 96% of its total annual sales.

It is worth noting that for the past three consecutive years, VeSync has generated more than 99% of its revenue on Amazon.

In 2017, 2018, 2019 and the year ended 2019, the company generated revenue of approximately US$84.7 million, US$144 million and US$171 million through Amazon, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its sales in North America reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to the impressive performance, big sellers also face the same problems as other third-party small and medium-sized sellers. Selling through the Amazon platform incurs a considerable amount of commissions, returns, logistics costs, etc.

In 2020, VeSync incurred $8.5 million in refund liabilities from sales returns and promotional rebates, of which $7.9 million was from promotional rebates. At the same time, the company's finished goods inventory reached $99.53 million, nearly $100 million!

In the past year, VeSync's fulfillment costs on Amazon reached $17.66 million; the platform's sales commission was $17.18 million; and marketing and advertising expenses reached $12.27 million. The contribution to my brother-in-law is huge!

In terms of research and development, this big seller also invests a lot. In 2020, VeSync's research and development costs reached 10.46 million US dollars.

The average annual salary of employees is 200,000 yuan, and VeSync's salary expenditure has increased significantly

A fast-growing company cannot do without the efforts of its employees. In 2020, VeSync spent $20.83 million on employee salaries, a significant increase from $13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync has a total of 693 employees, of which 583 are located in China, 105 are in the United States, and the other 5 are in other regions. Roughly calculated, the average annual salary of VeSync employees is about US$30,000, equivalent to nearly 200,000 yuan.

The Company believes that the ability to recruit and retain experienced employees is critical to the company's development and growth, and it also provides training opportunities for new employees.

VeSync recently announced that it is recruiting 2021 graduates from home and abroad. The recruitment targets of this big seller mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade and expand the product portfolio;

Leverage brand awareness to expand geographic coverage and sales channels;

Continue to invest in technology and strive to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance its product portfolio in the consumer field, especially smart home devices .

With a high proportion of sales in North America, VeSync still plans to expand its market share in existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators such as Amazon, other well-known US chain retailers that sell smart home devices and small appliances, such as Walmart, Best Buy, Target and Bed Bath & Beyond. In addition, VeSync also plans to increase sales on its own website and expand the sales products of VeSync applications. Deepen the field you are familiar with.

Last December, VeSync, the parent company of Shenzhen-based Morning North Technology, was listed on the Hong Kong Stock Exchange. Morning North Technology is well-known in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, far ahead of others in the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce giant with a market value second only to Anker, and is a veritable new star in the industry.

VeSync becomes the dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 financial report. Not only did its revenue double, but its net profit also soared 7.6 times, with impressive performance:

The company's annual revenue was US$349 million (approximately RMB 2.29 billion), a year-on-year increase of 103.0%; gross profit was US$152 million (approximately RMB 997 million), a year-on-year increase of 126.7%, and gross profit margin was 43.7%; profit attributable to the parent company's owners was US$54.723 million (approximately RMB 360 million), a year-on-year increase of 758.8%.

VeSync's value has already emerged. At the end of March, industry insider "Uncle Bo Yi" compared some of the top sellers, including sales and market valuations in 2020, in an attempt to compare the value of distributors and brand sellers, and Morning North Technology ranked high.

In fact, VeSync's total market value has reached HK$16.989 billion, or about RMB 14.3 billion, an 80% increase from when it was first listed. Among the listed cross-border e-commerce giants, its market value is second only to Anker, and exceeds Cross-border Link (7.4 billion) and the parent companies of Youkeshu, Zebao, Tongtuo, and Jiazhilian. This counterattack has made industry sellers give a thumbs up.

VeSync has been widely praised, thanks in large part to its business model.

Timely adjustment of strategies, air purifiers and other home appliances play a leading role

VeSync mainly designs, develops and sells three core brands. Levoit focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines; Etekcity focuses on smart small appliances, health monitoring equipment, outdoor entertainment products and personal care products; and Cosori focuses on kitchen appliances and dining utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensified, VeSync adjusted its product strategy to focus on premium products such as air purifiers and air fryers, which have higher gross profit margins.

In 2017, Etekcity brand products contributed 77.7% of the company's revenue, while Levoit only contributed 17.2%. By the first half of 2020, Etekcity's revenue share had dropped to 28.2%, while Levoit's had increased to 46.7%. The two brands have swapped roles, with Levoit becoming the company's largest and most profitable brand. In addition, Cosori's revenue share has also increased from 4.2% to 25%.

(Photo from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, respectively, laying a solid market foundation for subsequent sales. VeSync's revenue doubled in 2020, attributed to strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity weight scales and smart body fat scales.

The epidemic has made home product sellers winners, and VeSync is one of them.

Sales of the company's outdoor products, such as air mattresses and camping lanterns, declined as the United States implemented stay-at-home orders and other lockdown measures; however, buyers spent more time shopping online, and demand and revenue for home products increased, which partially offset the decline in outdoor products and ultimately increased VeSync's annual revenue to approximately US$350 million, winning a good battle.

According to CICC, VeSync's revenue will increase by 70% and 42% year-on-year in 2021-2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Big sales on the platform: about 96% of the revenue comes from Amazon

VeSync mainly sells products online and is highly dependent on Amazon, making it a veritable platform seller.

In 2020, VeSync's revenue from Amazon's Seller Central program was $102 million, an increase of 166.7%, and its revenue from the Vendor Central program was $233 million, an increase of 23.0%. The revenue that big sellers get from VC is so high that it will probably arouse the envy of many peers!

In 2020, VeSync generated approximately $335 million in revenue from Amazon, accounting for approximately 96% of its total annual sales.

It is worth noting that for the past three consecutive years, VeSync has generated more than 99% of its revenue on Amazon.

In 2017, 2018, 2019 and the year ended 2019, the company generated revenue of approximately US$84.7 million, US$144 million and US$171 million through Amazon, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its sales in North America reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to the impressive performance, big sellers also face the same problems as other third-party small and medium-sized sellers. Selling through the Amazon platform incurs a considerable amount of commissions, returns, logistics costs, etc.

In 2020, VeSync incurred $8.5 million in refund liabilities from sales returns and promotional rebates, of which $7.9 million was from promotional rebates. At the same time, the company's finished goods inventory reached $99.53 million, nearly $100 million!

In the past year, VeSync's fulfillment costs on Amazon reached $17.66 million; the platform's sales commission was $17.18 million; and marketing and advertising expenses reached $12.27 million. The contribution to my brother-in-law is huge!

In terms of research and development, this big seller also invests a lot. In 2020, VeSync's research and development costs reached 10.46 million US dollars.

The average annual salary of employees is 200,000 yuan, and VeSync's salary expenditure has increased significantly

A fast-growing company cannot do without the efforts of its employees. In 2020, VeSync spent $20.83 million on employee salaries, a significant increase from $13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync had a total of 693 employees, of which 583 were located in China, 105 were in the United States, and the other five were in other regions. According to rough calculations, the average annual salary of VeSync employees was about US$30,000, equivalent to nearly RMB 200,000.

The company believes that being able to recruit and retain experienced employees is crucial to the company's development and growth, and it will also provide training opportunities for new employees.

Recently, VeSync has released news to the public, recruiting fresh graduates from home and abroad. The targets of this big-seller recruitment mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade the product portfolio and expand the product portfolio;

Use brand awareness to expand geographical coverage and sales channels;

Continue to invest in technology and work to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance the product portfolio in the consumer field, especially smart home devices .

With a high share of North America sales, VeSync still plans to expand its market share in its existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators (such as Amazon, other well-known American retailers such as Walmart, Best Buy, Target and Bed Bath & Beyond) that sell smart home devices and small appliances. In addition, VeSync also plans to increase sales of its own websites and expand VeSync application sales products. Deeply develop in areas that it is familiar with.

In December last year , Shenzhen's parent company VeSync, VeSync, was listed on the Hong Kong Stock Exchange. Chenbei Technology has a well-known name in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, leading the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce big seller with a market value second only to Anker, and is a real upstart in the industry.

VeSync becomes a dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 company financial report, not only doubling its revenue, but also soaring by 7.6 times, with considerable performance:

The company's annual income was US$349 million (approximately RMB 2.29 billion), an increase of 103.0% year-on-year; gross profit was US$152 million (approximately RMB 997 million), an increase of 126.7% year-on-year, and a gross profit margin of 43.7%; profit attributable to parent company owners was US$54.723 million (approximately RMB 360 million), an increase of 758.8% year-on-year.

The value of VeSync has been revealed. At the end of March, industry insider "Uncle Boyi" compared some of the big sellers. The data includes sales and market value valuations in 2020, aiming to compare the value of distribution sellers and brand sellers. Chenbei Technology ranks high.

In fact, VeSync's total market value has reached HK$16.989 billion, or approximately RMB 14.3 billion, an increase of 80% from the time it was first listed. Among the listed cross-border e-commerce big sales, its market value is second only to Anker, surpassing Cross-border Connect (7.4 billion) and the parent company of Youkeshu, Zebao, Tongtuo and Price Chain. A counterattack made industry sellers look very proud.

VeSync is widely praised and its business model is of great significance.

Adjust strategies in a timely manner, and lift the beams of home appliances such as air purifiers

VeSync mainly designs, develops and sells three core brands. Among them, Levoit mainly focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines. Etekcity mainly focuses on smart small home appliances, health monitoring equipment, outdoor entertainment products and personal care products. Cosori focuses on kitchen appliances and catering utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensifies, VeSync has adjusted its product strategy and focuses on high-quality products such as air purifiers and air fryers, which have higher gross profits.

In 2017, the revenue contributed by Etekcity brand products to the company was 77.7%, while Levoit's revenue accounted for only 17.2%. By the first half of 2020, Etekcity's revenue accounted for 28.2%, and Levoit's revenue accounted for 46.7%. The two completed role swaps, and Levoit became the company's largest and most profitable brand. In addition, Cosori's revenue accounted for 25%.

(Pictures from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, laying a market foundation for subsequent sales. Revenue doubled in 2020, and VeSync attributed strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity scales and smart body fat scales.

The epidemic has made home product sellers a winner, and VeSync is also one of them.

Due to the implementation of stay-at-home orders and other lockdown measures in the United States, sales of outdoor products such as air cushions and camping lights declined; but buyers spent more time online shopping, and demand and revenue of home products increased, and the growth partially offset the decline in outdoors, which eventually increased VeSync's annual revenue to about $350 million, fighting a beautiful battle.

According to CITIC Construction Investment, VeSync's company revenue will increase by 70% and 42% year-on-year from 2021 to 2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Platform big sales: About 96% of the revenue comes from Amazon

VeSync is mainly online sales, and it relies heavily on Amazon and is a veritable platform big seller.

In 2020, VeSync's revenue through the Seller Central program on Amazon was US$102 million, an increase of 166.7%; the revenue generated through the Vendor Central program was US$233 million, an increase of 23.0%. The profits obtained by selling through VCs are so high, it may attract the envy of many peers!

VeSync generated approximately $335 million in revenue on Amazon in 2020 , accounting for about 96% of its total annual sales.

It is worth noting that VeSync has generated more than 99% of its revenue on Amazon in the past three consecutive years .

In 2017, 2018, 2019 and as of 2019, the company's revenue generated through Amazon was approximately US$84.7 million, US$144 million and US$171 million, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its North American sales reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to its impressive performance, Big Sales also faces the same problems as other third-party small and medium-sized sellers. Sales through Amazon platform have generated considerable commissions, returns, logistics fees, etc.

In 2020, VeSync's refund liability for self-sale returns and self-promotion rebates was US$8.5 million, of which the refund for self-promotion rebates was US$7.9 million. At the same time, the company's finished product inventory reached US$99.53 million, close to US$100 million!

In the past year, VeSync's performance fees on Amazon have reached $17.66 million; the platform's sales commission is $17.18 million; and marketing and advertising expenses are as high as $12.27 million. It has made a huge contribution to my brother-in-law!

In terms of R&D, this big seller also has a lot of money. In 2020, the R&D cost of VeSync reached US$10.46 million.

The average annual salary of employees is 200,000, and VeSync's salary expenditure has increased significantly

A rapidly growing company must be inseparable from the efforts of its employees. VeSync's expenditure on employee wages in 2020 was as high as US$20.83 million, a significant increase from US$13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync had a total of 693 employees, of which 583 were located in China, 105 were in the United States, and the other five were in other regions. According to rough calculations, the average annual salary of VeSync employees was about US$30,000, equivalent to nearly RMB 200,000.

The company believes that being able to recruit and retain experienced employees is crucial to the company's development and growth, and it will also provide training opportunities for new employees.

Recently, VeSync has released news to the public, recruiting fresh graduates from home and abroad. The targets of this big-seller recruitment mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade the product portfolio and expand the product portfolio;

Use brand awareness to expand geographical coverage and sales channels;

Continue to invest in technology and work to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance the product portfolio in the consumer field, especially smart home devices .

With a high share of North America sales, VeSync still plans to expand its market share in its existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators (such as Amazon, other well-known American retailers such as Walmart, Best Buy, Target and Bed Bath & Beyond) that sell smart home devices and small appliances. In addition, VeSync also plans to increase sales of its own websites and expand VeSync application sales products. Deeply develop in areas that it is familiar with.

In December last year , Shenzhen's parent company VeSync, VeSync, was listed on the Hong Kong Stock Exchange. Chenbei Technology has a well-known name in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, leading the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce big seller with a market value second only to Anker, and is a real upstart in the industry.

VeSync becomes a dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 company financial report, not only doubling its revenue, but also soaring by 7.6 times, with considerable performance:

The company's annual income was US$349 million (approximately RMB 2.29 billion), an increase of 103.0% year-on-year; gross profit was US$152 million (approximately RMB 997 million), an increase of 126.7% year-on-year, and a gross profit margin of 43.7%; profit attributable to parent company owners was US$54.723 million (approximately RMB 360 million), an increase of 758.8% year-on-year.

The value of VeSync has been revealed. At the end of March, industry insider "Uncle Boyi" compared some of the big sellers. The data includes sales and market value valuations in 2020, aiming to compare the value of distribution sellers and brand sellers. Chenbei Technology ranks high.

In fact, VeSync's total market value has reached HK$16.989 billion, or approximately RMB 14.3 billion, an increase of 80% from the time it was first listed. Among the listed cross-border e-commerce big sales, its market value is second only to Anker, surpassing Cross-border Connect (7.4 billion) and the parent company of Youkeshu, Zebao, Tongtuo and Price Chain. A counterattack made industry sellers look very proud.

VeSync is widely praised and its business model is of great significance.

Adjust strategies in a timely manner, and lift the beams of home appliances such as air purifiers

VeSync mainly designs, develops and sells three core brands. Among them, Levoit mainly focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines. Etekcity mainly focuses on smart small home appliances, health monitoring equipment, outdoor entertainment products and personal care products. Cosori focuses on kitchen appliances and catering utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensifies, VeSync has adjusted its product strategy and focuses on high-quality products such as air purifiers and air fryers, which have higher gross profits.

In 2017, the revenue contributed by Etekcity brand products to the company was 77.7%, while Levoit's revenue accounted for only 17.2%. By the first half of 2020, Etekcity's revenue accounted for 28.2%, and Levoit's revenue accounted for 46.7%. The two completed role swaps, and Levoit became the company's largest and most profitable brand. In addition, Cosori's revenue accounted for 25%.

(Pictures from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, laying a market foundation for subsequent sales. Revenue doubled in 2020, and VeSync attributed strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity scales and smart body fat scales.

The epidemic has made home product sellers a winner, and VeSync is also one of them.

Due to the implementation of stay-at-home orders and other lockdown measures in the United States, sales of outdoor products such as air cushions and camping lights declined; but buyers spent more time online shopping, and demand and revenue of home products increased, and the growth partially offset the decline in outdoors, which eventually increased VeSync's annual revenue to about $350 million, fighting a beautiful battle.

According to CITIC Construction Investment, VeSync's company revenue will increase by 70% and 42% year-on-year from 2021 to 2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Platform big sales: About 96% of the revenue comes from Amazon

VeSync is mainly online sales, and it relies heavily on Amazon and is a veritable platform big seller.

In 2020, VeSync's revenue through the Seller Central program on Amazon was US$102 million, an increase of 166.7%; the revenue generated through the Vendor Central program was US$233 million, an increase of 23.0%. The profits obtained by selling through VCs are so high, it may attract the envy of many peers!

VeSync generated approximately $335 million in revenue on Amazon in 2020 , accounting for about 96% of its total annual sales.

It is worth noting that VeSync has generated more than 99% of its revenue on Amazon in the past three consecutive years .

In 2017, 2018, 2019 and as of 2019, the company's revenue generated through Amazon was approximately US$84.7 million, US$144 million and US$171 million, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its North American sales reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to its impressive performance, Big Sales also faces the same problems as other third-party small and medium-sized sellers. Sales through Amazon platform have generated considerable commissions, returns, logistics fees, etc.

In 2020, VeSync's refund liability for self-sale returns and self-promotion rebates was US$8.5 million, of which the refund for self-promotion rebates was US$7.9 million. At the same time, the company's finished product inventory reached US$99.53 million, close to US$100 million!

In the past year, VeSync's performance fees on Amazon have reached $17.66 million; the platform's sales commission is $17.18 million; and marketing and advertising expenses are as high as $12.27 million. It has made a huge contribution to my brother-in-law!

In terms of R&D, this big seller also has a lot of money. In 2020, the R&D cost of VeSync reached US$10.46 million.

The average annual salary of employees is 200,000, and VeSync's salary expenditure has increased significantly

A rapidly growing company must be inseparable from the efforts of its employees. VeSync's expenditure on employee wages in 2020 was as high as US$20.83 million, a significant increase from US$13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync had a total of 693 employees, of which 583 were located in China, 105 were in the United States, and the other five were in other regions. According to rough calculations, the average annual salary of VeSync employees was about US$30,000, equivalent to nearly RMB 200,000.

The company believes that being able to recruit and retain experienced employees is crucial to the company's development and growth, and it will also provide training opportunities for new employees.

Recently, VeSync has released news to the public, recruiting fresh graduates from home and abroad. The targets of this big-seller recruitment mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade the product portfolio and expand the product portfolio;

Use brand awareness to expand geographical coverage and sales channels;

Continue to invest in technology and work to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance the product portfolio in the consumer field, especially smart home devices .

With a high share of North America sales, VeSync still plans to expand its market share in its existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators (such as Amazon, other well-known American retailers such as Walmart, Best Buy, Target and Bed Bath & Beyond) that sell smart home devices and small appliances. In addition, VeSync also plans to increase sales of its own websites and expand VeSync application sales products. Deeply develop in areas that it is familiar with.

In December last year , Shenzhen's parent company VeSync, VeSync, was listed on the Hong Kong Stock Exchange. Chenbei Technology has a well-known name in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, leading the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce big seller with a market value second only to Anker, and is a real upstart in the industry.

VeSync becomes a dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 company financial report, not only doubling its revenue, but also soaring by 7.6 times, with considerable performance:

The company's annual income was US$349 million (approximately RMB 2.29 billion), an increase of 103.0% year-on-year; gross profit was US$152 million (approximately RMB 997 million), an increase of 126.7% year-on-year, and a gross profit margin of 43.7%; profit attributable to parent company owners was US$54.723 million (approximately RMB 360 million), an increase of 758.8% year-on-year.

The value of VeSync has been revealed. At the end of March, industry insider "Uncle Boyi" compared some of the big sellers. The data includes sales and market value valuations in 2020, aiming to compare the value of distribution sellers and brand sellers. Chenbei Technology ranks high.

In fact, VeSync's total market value has reached HK$16.989 billion, or approximately RMB 14.3 billion, an increase of 80% from the time it was first listed. Among the listed cross-border e-commerce big sales, its market value is second only to Anker, surpassing Cross-border Connect (7.4 billion) and the parent company of Youkeshu, Zebao, Tongtuo and Price Chain. A counterattack made industry sellers look very proud.

VeSync is widely praised and its business model is of great significance.

Adjust strategies in a timely manner, and lift the beams of home appliances such as air purifiers

VeSync mainly designs, develops and sells three core brands. Among them, Levoit mainly focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines. Etekcity mainly focuses on smart small home appliances, health monitoring equipment, outdoor entertainment products and personal care products. Cosori focuses on kitchen appliances and catering utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensifies, VeSync has adjusted its product strategy and focuses on high-quality products such as air purifiers and air fryers, which have higher gross profits.

In 2017, the revenue contributed by Etekcity brand products to the company was 77.7%, while Levoit's revenue accounted for only 17.2%. By the first half of 2020, Etekcity's revenue accounted for 28.2%, and Levoit's revenue accounted for 46.7%. The two completed role swaps, and Levoit became the company's largest and most profitable brand. In addition, Cosori's revenue accounted for 25%.

(Pictures from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, laying a market foundation for subsequent sales. Revenue doubled in 2020, and VeSync attributed strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity scales and smart body fat scales.

The epidemic has made home product sellers a winner, and VeSync is also one of them.

Due to the implementation of stay-at-home orders and other lockdown measures in the United States, sales of outdoor products such as air cushions and camping lights declined; but buyers spent more time online shopping, and demand and revenue of home products increased, and the growth partially offset the decline in outdoors, which eventually increased VeSync's annual revenue to about $350 million, fighting a beautiful battle.

According to CITIC Construction Investment, VeSync's company revenue will increase by 70% and 42% year-on-year from 2021 to 2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Platform big sales: About 96% of the revenue comes from Amazon

VeSync is mainly online sales, and it relies heavily on Amazon and is a veritable platform big seller.

In 2020, VeSync's revenue through the Seller Central program on Amazon was US$102 million, an increase of 166.7%; the revenue generated through the Vendor Central program was US$233 million, an increase of 23.0%. The profits obtained by selling through VCs are so high, it may attract the envy of many peers!

VeSync generated approximately $335 million in revenue on Amazon in 2020 , accounting for about 96% of its total annual sales.

It is worth noting that VeSync has generated more than 99% of its revenue on Amazon in the past three consecutive years .

In 2017, 2018, 2019 and as of 2019, the company's revenue generated through Amazon was approximately US$84.7 million, US$144 million and US$171 million, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its North American sales reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to its impressive performance, Big Sales also faces the same problems as other third-party small and medium-sized sellers. Sales through Amazon platform have generated considerable commissions, returns, logistics fees, etc.

In 2020, VeSync's refund liability for self-sale returns and self-promotion rebates was US$8.5 million, of which the refund for self-promotion rebates was US$7.9 million. At the same time, the company's finished product inventory reached US$99.53 million, close to US$100 million!

In the past year, VeSync's performance fees on Amazon have reached $17.66 million; the platform's sales commission is $17.18 million; and marketing and advertising expenses are as high as $12.27 million. It has made a huge contribution to my brother-in-law!

In terms of R&D, this big seller also has a lot of money. In 2020, the R&D cost of VeSync reached US$10.46 million.

The average annual salary of employees is 200,000, and VeSync's salary expenditure has increased significantly

A rapidly growing company must be inseparable from the efforts of its employees. VeSync's expenditure on employee wages in 2020 was as high as US$20.83 million, a significant increase from US$13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync had a total of 693 employees, of which 583 were located in China, 105 were in the United States, and the other five were in other regions. According to rough calculations, the average annual salary of VeSync employees was about US$30,000, equivalent to nearly RMB 200,000.

The company believes that being able to recruit and retain experienced employees is crucial to the company's development and growth, and it will also provide training opportunities for new employees.

Recently, VeSync has released news to the public, recruiting fresh graduates from home and abroad. The targets of this big-seller recruitment mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade the product portfolio and expand the product portfolio;

Use brand awareness to expand geographical coverage and sales channels;

Continue to invest in technology and work to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance the product portfolio in the consumer field, especially smart home devices .

With a high share of North America sales, VeSync still plans to expand its market share in its existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators (such as Amazon, other well-known American retailers such as Walmart, Best Buy, Target and Bed Bath & Beyond) that sell smart home devices and small appliances. In addition, VeSync also plans to increase sales of its own websites and expand VeSync application sales products. Deeply develop in areas that it is familiar with.

In December last year , Shenzhen's parent company VeSync, VeSync, was listed on the Hong Kong Stock Exchange. Chenbei Technology has a well-known name in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, leading the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce big seller with a market value second only to Anker, and is a real upstart in the industry.

VeSync becomes a dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 company financial report, not only doubling its revenue, but also soaring by 7.6 times, with considerable performance:

The company's annual income was US$349 million (approximately RMB 2.29 billion), an increase of 103.0% year-on-year; gross profit was US$152 million (approximately RMB 997 million), an increase of 126.7% year-on-year, and a gross profit margin of 43.7%; profit attributable to parent company owners was US$54.723 million (approximately RMB 360 million), an increase of 758.8% year-on-year.

The value of VeSync has been revealed. At the end of March, industry insider "Uncle Boyi" compared some of the big sellers. The data includes sales and market value valuations in 2020, aiming to compare the value of distribution sellers and brand sellers. Chenbei Technology ranks high.

In fact, VeSync's total market value has reached HK$16.989 billion, or approximately RMB 14.3 billion, an increase of 80% from the time it was first listed. Among the listed cross-border e-commerce big sales, its market value is second only to Anker, surpassing Cross-border Connect (7.4 billion) and the parent company of Youkeshu, Zebao, Tongtuo and Price Chain. A counterattack made industry sellers look very proud.

VeSync is widely praised and its business model is of great significance.

Adjust strategies in a timely manner, and lift the beams of home appliances such as air purifiers

VeSync mainly designs, develops and sells three core brands. Among them, Levoit mainly focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines. Etekcity mainly focuses on smart small home appliances, health monitoring equipment, outdoor entertainment products and personal care products. Cosori focuses on kitchen appliances and catering utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensifies, VeSync has adjusted its product strategy and focuses on high-quality products such as air purifiers and air fryers, which have higher gross profits.

In 2017, the revenue contributed by Etekcity brand products to the company was 77.7%, while Levoit's revenue accounted for only 17.2%. By the first half of 2020, Etekcity's revenue accounted for 28.2%, and Levoit's revenue accounted for 46.7%. The two completed role swaps, and Levoit became the company's largest and most profitable brand. In addition, Cosori's revenue accounted for 25%.

(Pictures from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, laying a market foundation for subsequent sales. Revenue doubled in 2020, and VeSync attributed strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity scales and smart body fat scales.

The epidemic has made home product sellers a winner, and VeSync is also one of them.

Due to the implementation of stay-at-home orders and other lockdown measures in the United States, sales of outdoor products such as air cushions and camping lights declined; but buyers spent more time online shopping, and demand and revenue of home products increased, and the growth partially offset the decline in outdoors, which eventually increased VeSync's annual revenue to about $350 million, fighting a beautiful battle.

According to CITIC Construction Investment, VeSync's company revenue will increase by 70% and 42% year-on-year from 2021 to 2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Platform big sales: About 96% of the revenue comes from Amazon

VeSync is mainly online sales, and it relies heavily on Amazon and is a veritable platform big seller.

In 2020, VeSync's revenue through the Seller Central program on Amazon was US$102 million, an increase of 166.7%; the revenue generated through the Vendor Central program was US$233 million, an increase of 23.0%. The profits obtained by selling through VCs are so high, it may attract the envy of many peers!

VeSync generated approximately $335 million in revenue on Amazon in 2020 , accounting for about 96% of its total annual sales.

It is worth noting that VeSync has generated more than 99% of its revenue on Amazon in the past three consecutive years .

In 2017, 2018, 2019 and as of 2019, the company's revenue generated through Amazon was approximately US$84.7 million, US$144 million and US$171 million, respectively, accounting for approximately 99.4%, 99.3% and 99.2% of the company's total revenue, respectively.

VeSync 's sales revenue mainly comes from North America. In 2020, its North American sales reached US$302 million, and other sales revenue came from Europe and Asia.

In addition to its impressive performance, Big Sales also faces the same problems as other third-party small and medium-sized sellers. Sales through Amazon platform have generated considerable commissions, returns, logistics fees, etc.

In 2020, VeSync's refund liability for self-sale returns and self-promotion rebates was US$8.5 million, of which the refund for self-promotion rebates was US$7.9 million. At the same time, the company's finished product inventory reached US$99.53 million, close to US$100 million!

In the past year, VeSync's performance fees on Amazon have reached $17.66 million; the platform's sales commission is $17.18 million; and marketing and advertising expenses are as high as $12.27 million. It has made a huge contribution to my brother-in-law!

In terms of R&D, this big seller also has a lot of money. In 2020, the R&D cost of VeSync reached US$10.46 million.

The average annual salary of employees is 200,000, and VeSync's salary expenditure has increased significantly

A rapidly growing company must be inseparable from the efforts of its employees. VeSync's expenditure on employee wages in 2020 was as high as US$20.83 million, a significant increase from US$13.36 million in 2019.

It is understood that as of December 31, 2020, VeSync had a total of 693 employees, of which 583 were located in China, 105 were in the United States, and the other five were in other regions. According to rough calculations, the average annual salary of VeSync employees was about US$30,000, equivalent to nearly RMB 200,000.

The company believes that being able to recruit and retain experienced employees is crucial to the company's development and growth, and it will also provide training opportunities for new employees.

Recently, VeSync has released news to the public, recruiting fresh graduates from home and abroad. The targets of this big-seller recruitment mainly include functional support, R&D technology, supply chain quality management, market operation and product design.

The type of personnel recruited is related to the company's next layout. In the new year, VeSync will further gain market share in the online market. It plans to implement the following strategies:

Further upgrade the product portfolio and expand the product portfolio;

Use brand awareness to expand geographical coverage and sales channels;

Continue to invest in technology and work to develop VeSync into a home IoT platform.

At the same time, VeSync also mentioned that it will further enhance the product portfolio in the consumer field, especially smart home devices .

With a high share of North America sales, VeSync still plans to expand its market share in its existing major markets ( including North America, Europe and Japan ) . As of the end of 2020, it has established business relationships with e-commerce operators (such as Amazon, other well-known American retailers such as Walmart, Best Buy, Target and Bed Bath & Beyond) that sell smart home devices and small appliances. In addition, VeSync also plans to increase sales of its own websites and expand VeSync application sales products. Deeply develop in areas that it is familiar with.

In December last year , Shenzhen's parent company VeSync, VeSync, was listed on the Hong Kong Stock Exchange. Chenbei Technology has a well-known name in the industry. According to its latest financial report, sales of home appliances soared in 2020, with net profit increasing by nearly 760%, leading the industry.

Compared with many listed companies in the industry, VeSync has become a cross-border e-commerce big seller with a market value second only to Anker, and is a real upstart in the industry.

VeSync becomes a dark horse in the industry, with net profit increasing by 760%

Recently, VeSync released its 2020 company financial report, not only doubling its revenue, but also soaring by 7.6 times, with considerable performance:

The company's annual income was US$349 million (approximately RMB 2.29 billion), an increase of 103.0% year-on-year; gross profit was US$152 million (approximately RMB 997 million), an increase of 126.7% year-on-year, and a gross profit margin of 43.7%; profit attributable to parent company owners was US$54.723 million (approximately RMB 360 million), an increase of 758.8% year-on-year.

The value of VeSync has been revealed. At the end of March, industry insider "Uncle Boyi" compared some of the big sellers. The data includes sales and market value valuations in 2020, aiming to compare the value of distribution sellers and brand sellers. Chenbei Technology ranks high.

In fact, VeSync's total market value has reached HK$16.989 billion, or approximately RMB 14.3 billion, an increase of 80% from the time it was first listed. Among the listed cross-border e-commerce big sales, its market value is second only to Anker, surpassing Cross-border Connect (7.4 billion) and the parent company of Youkeshu, Zebao, Tongtuo and Price Chain. A counterattack made industry sellers look very proud.

VeSync is widely praised and its business model is of great significance.

Adjust strategies in a timely manner, and lift the beams of home appliances such as air purifiers

VeSync mainly designs, develops and sells three core brands. Among them, Levoit mainly focuses on home appliances such as air purifiers, humidifiers, and aromatherapy machines. Etekcity mainly focuses on smart small home appliances, health monitoring equipment, outdoor entertainment products and personal care products. Cosori focuses on kitchen appliances and catering utensils such as air fryers, electric kettles, and personal juicers.

As market competition intensifies, VeSync has adjusted its product strategy and focuses on high-quality products such as air purifiers and air fryers, which have higher gross profits.

In 2017, the revenue contribution of Etekcity brand products to the company was 77.7%, while Levoit's revenue accounted for only 17.2%. By the first half of 2020, Etekcity's revenue decreased to 28.2%, and Levoit's revenue increased to 46.7%. The two completed role swaps, and Levoit became the company's largest and most profitable brand. In addition, Cosori's revenue also increased from 4.2% to 25%.

(Pictures from Levoit website)

In 2019, its air purifiers and air fryers ranked first and second in the Amazon category, laying a market foundation for subsequent sales. Revenue doubled in 2020, and VeSync attributed strong sales of various home products, including Levoit air purifiers, Cosori air fryers, and Etekcity scales and smart body fat scales.

The epidemic has made home product sellers a winner, and VeSync is also one of them.

Due to the implementation of stay-at-home orders and other lockdown measures in the United States, sales of outdoor products such as air cushions and camping lights declined; but buyers spent more time online shopping, and demand and revenue of home products increased, and the growth partially offset the decline in outdoors, which eventually increased VeSync's annual revenue to about $350 million, fighting a beautiful battle.

According to CITIC Construction Investment, VeSync's company revenue will increase by 70% and 42% year-on-year from 2021 to 2022, and its net profit attributable to shareholders will increase by 54% and 44% year-on-year, which is worth looking forward to.

Platform big sales: About 96% of the revenue comes from Amazon

VeSync is mainly online sales, and it relies heavily on Amazon and is a veritable platform big seller.

In 2020, VeSync's revenue through the Seller Central program on Amazon was US$102 million, an increase of 166.7%; the revenue generated through the Vendor Central program was US$233 million, an increase of 23.0%. The profits obtained by selling VCs are so high, it may attract the envy of many peers!

VeSync generated approximately $335 million in revenue on Amazon in 2020 , accounting for about 96% of its annual total sales.

值得注意的是，过去连续三年， VeSync在亚马逊产生的收益均超过了99%。

2017年、2018年、2019年及截至2019年，该公司通过亚马逊产生的收益分别约为8470万美元、1.44亿美元、1.71亿美元，分别占公司总收益的约99.4%、99.3%、99.2%。

VeSync的销售收益主要来自于北美， 2020年，其北美地区的销售高达3.02亿美元，其他销售收入来自欧洲和亚洲。

亮眼业绩之外，大卖也面临着和其他第三方中小卖家相同的问题，通过亚马逊平台销售，产生了数额不小的佣金、退货、物流费用等。

2020年，VeSync产生自销售退货和自促销回扣的退款责任为850万美元，其中产生自促销回扣的退款为790万美元。同时，公司的成品存货达到了9953万美元，接近一亿美元！

过去的一年， VeSync在亚马逊上的履约费用高达1766万美元；平台的销售佣金为1718万美元；营销和广告开支高达1227万美元。给姐夫做出的贡献巨大！

在研发方面，这家大卖也很下本钱， 2020年，VeSync的研发成本达到了1046万美元。

员工平均年薪20万，VeSync工资支出增长明显

发展迅速的公司一定离不开员工的付出。 2020年VeSync在员工工资方面的支出数额高达2083万美元，较2019年的1336万美元有了明显的上升。

据了解，截止到2020年12月31日，VeSync共有693名员工，其中583名位于中国，105名员工在美国，其他5名在其他地区。粗略计算，VeSync员工的平均年薪约为3万美元，相当于近20万元。

公司认为，能够招募和挽留有经验的员工对公司发展和增长至关重要，其也会为新员工提供培训机会。

近期VeSync对外发布消息，招募海内外2021应届毕业生。这家大卖招聘的对象主要包括职能支持类、研发技术类、供应链质量管理类、市场运营类和产品设计类。

招聘的人员类型和公司下一步布局是有一定关联的。新的一年， VeSync会进一步获取线上市场的市场份额。其计划实施以下策略：

进一步升级产品组合并扩展产品组合；

利用品牌知名度拓展地理覆盖范围及销售渠道；

持续投资技术并致力将VeSync发展为一个家庭物联网平台。

同时， VeSync也提到会进一步增强消费者领域的产品组合，尤其是智能家居设备。

在北美销售占比很高的情况下， VeSync仍然计划扩大现有主要市场（包括北美、欧洲及日本）的市场份额。截至2020年末，其已与电商运营商（如亚马逊、其他销售智能家居设备及小家电的知名美国连锁零售商沃尔玛，百思买，塔吉特及Bed Bath＆Beyond）建立业务关系。此外，VeSync还计划增加自有网站的销售，扩展VeSync应用程序销售产品。在自己熟悉的领域深耕。

去年12月，深圳大卖晨北科技母公司VeSync在港交所上市。晨北科技在业内名号响当当，根据其最新财报，2020年家电产品销售暴涨，净利润增长近760%，在业内一骑绝尘。

对比业内多家上市公司， VeSync已成为市值仅次于安克的跨境电商大卖，妥妥的行业新贵。

VeSync成行业黑马，净利润增长760%

近日， VeSync发布了2020年公司财报，不仅营收翻倍，净利润更是猛增7.6倍，业绩十分可观：

公司年收益为3.49亿美元（约合人民币22.9亿），同比增长103.0%；毛利1.52亿美元（约合人民币9.97亿），同比增长126.7%，毛利率43.7%；母公司拥有人应占溢利5472.3万美元（约合人民币3.6亿），同比增长758.8%。

VeSync的价值已经显现。3月底，行业人士“博一大叔”对部分大卖进行对比，数据包括2020年销售额和市值估值，意在比较铺货卖家和品牌卖家的价值，晨北科技排名靠前。

事实上， VeSync总市值已达169.89亿港元，约合人民币143亿，较刚上市时增长了八成。在已上市的跨境电商大卖中，其市值仅次于安克，超过跨境通（74亿）及有棵树、泽宝、通拓、价之链的母公司，一场逆袭让业内卖家看得直竖大拇指。

VeSync广受好评，其业务模式功不可没。

及时调整战略，空气净化器等家电挑大梁

VeSync主要设计开发和销售三个核心品牌，其中Levoit主打空气净化器、加湿器、香薰机等家居电器，Etekcity主打智能小家电、健康监测设备、户外娱乐产品及个人护理产品，Cosori则专注空气炸锅、电热水壶、个人榨汁机等厨房电器和餐饮用具。

随着市场竞争加剧， VeSync调整了产品策略，将重点放在空气净化器、空气炸锅等优质产品上，这些产品的毛利润较高。

2017年，Etekcity品牌产品为公司贡献的收益占比为77.7%，Levoit的收益占比只有17.2%；到2020年上半年，Etekcity的收益占比降到了28.2%，Levoit的收益占比增至46.7%，二者完成角色互换，Levoit成为公司最大、最具盈利能力的品牌。此外，Cosori的收益占比也从4.2%增长到了25%。

（图片来自Levoit网站）

2019年，其空气净化器和空气炸锅在亚马逊类别中分别排名第一、第二，为之后的销售打好了市场基础。2020年营收翻倍，VeSync归功于各种家居产品销售强劲，包括Levoit空气净化器、Cosori空气炸锅及Etekcity体重秤和智能体脂秤。

疫情让家居产品卖家成为赢家， VeSync也是其中一个。

由于美国实施居家令和其他封锁措施，公司气垫及野营灯等户外产品销售下滑；但买家消耗更多时间网购，家居产品需求及收益增长，增长部分抵消了户外的下滑，最终让VeSync年收益增至约3.5亿美元，打了一场漂亮仗。

据中信建投预计， VeSync 2021-2022年公司收入将同比增长70%和42%，归母净利润同比增长54%和44%，值得期待。

平台大卖：约96%的收益来自亚马逊

VeSync以线上销售为主，其高度依赖亚马逊，是名副其实的平台大卖。

2020年， VeSync在亚马逊上通过Seller Central计划所得收益为1.02亿美元，增加166.7%；通过Vendor Central计划产生的收益为2.33亿美元，增加23.0%。大卖通过VC得到的收益如此之高，怕是会引起一众同行艳羡！

2020年VeSync在亚马逊产生的收益约为3.35亿美元，约占其年度总销售额的96%。

值得注意的是，过去连续三年， VeSync在亚马逊产生的收益均超过了99%。

2017年、2018年、2019年及截至2019年，该公司通过亚马逊产生的收益分别约为8470万美元、1.44亿美元、1.71亿美元，分别占公司总收益的约99.4%、99.3%、99.2%。

VeSync的销售收益主要来自于北美， 2020年，其北美地区的销售高达3.02亿美元，其他销售收入来自欧洲和亚洲。

亮眼业绩之外，大卖也面临着和其他第三方中小卖家相同的问题，通过亚马逊平台销售，产生了数额不小的佣金、退货、物流费用等。

2020年，VeSync产生自销售退货和自促销回扣的退款责任为850万美元，其中产生自促销回扣的退款为790万美元。同时，公司的成品存货达到了9953万美元，接近一亿美元！

过去的一年， VeSync在亚马逊上的履约费用高达1766万美元；平台的销售佣金为1718万美元；营销和广告开支高达1227万美元。给姐夫做出的贡献巨大！

在研发方面，这家大卖也很下本钱， 2020年，VeSync的研发成本达到了1046万美元。

员工平均年薪20万，VeSync工资支出增长明显

发展迅速的公司一定离不开员工的付出。 2020年VeSync在员工工资方面的支出数额高达2083万美元，较2019年的1336万美元有了明显的上升。

据了解，截止到2020年12月31日，VeSync共有693名员工，其中583名位于中国，105名员工在美国，其他5名在其他地区。粗略计算，VeSync员工的平均年薪约为3万美元，相当于近20万元。

公司认为，能够招募和挽留有经验的员工对公司发展和增长至关重要，其也会为新员工提供培训机会。

近期VeSync对外发布消息，招募海内外2021应届毕业生。这家大卖招聘的对象主要包括职能支持类、研发技术类、供应链质量管理类、市场运营类和产品设计类。

招聘的人员类型和公司下一步布局是有一定关联的。新的一年， VeSync会进一步获取线上市场的市场份额。其计划实施以下策略：

进一步升级产品组合并扩展产品组合；

利用品牌知名度拓展地理覆盖范围及销售渠道；

持续投资技术并致力将VeSync发展为一个家庭物联网平台。

同时， VeSync也提到会进一步增强消费者领域的产品组合，尤其是智能家居设备。

在北美销售占比很高的情况下， VeSync仍然计划扩大现有主要市场（包括北美、欧洲及日本）的市场份额。截至2020年末，其已与电商运营商（如亚马逊、其他销售智能家居设备及小家电的知名美国连锁零售商沃尔玛，百思买，塔吉特及Bed Bath＆Beyond）建立业务关系。此外，VeSync还计划增加自有网站的销售，扩展VeSync应用程序销售产品。在自己熟悉的领域深耕。

去年12月，深圳大卖晨北科技母公司VeSync在港交所上市。晨北科技在业内名号响当当，根据其最新财报，2020年家电产品销售暴涨，净利润增长近760%，在业内一骑绝尘。

对比业内多家上市公司， VeSync已成为市值仅次于安克的跨境电商大卖，妥妥的行业新贵。

VeSync成行业黑马，净利润增长760%

近日， VeSync发布了2020年公司财报，不仅营收翻倍，净利润更是猛增7.6倍，业绩十分可观：

公司年收益为3.49亿美元（约合人民币22.9亿），同比增长103.0%；毛利1.52亿美元（约合人民币9.97亿），同比增长126.7%，毛利率43.7%；母公司拥有人应占溢利5472.3万美元（约合人民币3.6亿），同比增长758.8%。

VeSync的价值已经显现。3月底，行业人士“博一大叔”对部分大卖进行对比，数据包括2020年销售额和市值估值，意在比较铺货卖家和品牌卖家的价值，晨北科技排名靠前。

事实上， VeSync总市值已达169.89亿港元，约合人民币143亿，较刚上市时增长了八成。在已上市的跨境电商大卖中，其市值仅次于安克，超过跨境通（74亿）及有棵树、泽宝、通拓、价之链的母公司，一场逆袭让业内卖家看得直竖大拇指。

VeSync广受好评，其业务模式功不可没。

及时调整战略，空气净化器等家电挑大梁

VeSync主要设计开发和销售三个核心品牌，其中Levoit主打空气净化器、加湿器、香薰机等家居电器，Etekcity主打智能小家电、健康监测设备、户外娱乐产品及个人护理产品，Cosori则专注空气炸锅、电热水壶、个人榨汁机等厨房电器和餐饮用具。

随着市场竞争加剧， VeSync调整了产品策略，将重点放在空气净化器、空气炸锅等优质产品上，这些产品的毛利润较高。

2017年，Etekcity品牌产品为公司贡献的收益占比为77.7%，Levoit的收益占比只有17.2%；到2020年上半年，Etekcity的收益占比降到了28.2%，Levoit的收益占比增至46.7%，二者完成角色互换，Levoit成为公司最大、最具盈利能力的品牌。此外，Cosori的收益占比也从4.2%增长到了25%。

（图片来自Levoit网站）

2019年，其空气净化器和空气炸锅在亚马逊类别中分别排名第一、第二，为之后的销售打好了市场基础。2020年营收翻倍，VeSync归功于各种家居产品销售强劲，包括Levoit空气净化器、Cosori空气炸锅及Etekcity体重秤和智能体脂秤。

疫情让家居产品卖家成为赢家， VeSync也是其中一个。

由于美国实施居家令和其他封锁措施，公司气垫及野营灯等户外产品销售下滑；但买家消耗更多时间网购，家居产品需求及收益增长，增长部分抵消了户外的下滑，最终让VeSync年收益增至约3.5亿美元，打了一场漂亮仗。

据中信建投预计， VeSync 2021-2022年公司收入将同比增长70%和42%，归母净利润同比增长54%和44%，值得期待。

平台大卖：约96%的收益来自亚马逊

VeSync以线上销售为主，其高度依赖亚马逊，是名副其实的平台大卖。

2020年， VeSync在亚马逊上通过Seller Central计划所得收益为1.02亿美元，增加166.7%；通过Vendor Central计划产生的收益为2.33亿美元，增加23.0%。大卖通过VC得到的收益如此之高，怕是会引起一众同行艳羡！

2020年VeSync在亚马逊产生的收益约为3.35亿美元，约占其年度总销售额的96%。

值得注意的是，过去连续三年， VeSync在亚马逊产生的收益均超过了99%。

2017年、2018年、2019年及截至2019年，该公司通过亚马逊产生的收益分别约为8470万美元、1.44亿美元、1.71亿美元，分别占公司总收益的约99.4%、99.3%、99.2%。

VeSync的销售收益主要来自于北美， 2020年，其北美地区的销售高达3.02亿美元，其他销售收入来自欧洲和亚洲。

亮眼业绩之外，大卖也面临着和其他第三方中小卖家相同的问题，通过亚马逊平台销售，产生了数额不小的佣金、退货、物流费用等。

2020年，VeSync产生自销售退货和自促销回扣的退款责任为850万美元，其中产生自促销回扣的退款为790万美元。同时，公司的成品存货达到了9953万美元，接近一亿美元！

过去的一年， VeSync在亚马逊上的履约费用高达1766万美元；平台的销售佣金为1718万美元；营销和广告开支高达1227万美元。给姐夫做出的贡献巨大！

在研发方面，这家大卖也很下本钱， 2020年，VeSync的研发成本达到了1046万美元。

员工平均年薪20万，VeSync工资支出增长明显

发展迅速的公司一定离不开员工的付出。 2020年VeSync在员工工资方面的支出数额高达2083万美元，较2019年的1336万美元有了明显的上升。

据了解，截止到2020年12月31日，VeSync共有693名员工，其中583名位于中国，105名员工在美国，其他5名在其他地区。粗略计算，VeSync员工的平均年薪约为3万美元，相当于近20万元。

公司认为，能够招募和挽留有经验的员工对公司发展和增长至关重要，其也会为新员工提供培训机会。

近期VeSync对外发布消息，招募海内外2021应届毕业生。这家大卖招聘的对象主要包括职能支持类、研发技术类、供应链质量管理类、市场运营类和产品设计类。

招聘的人员类型和公司下一步布局是有一定关联的。新的一年， VeSync会进一步获取线上市场的市场份额。其计划实施以下策略：

进一步升级产品组合并扩展产品组合；

利用品牌知名度拓展地理覆盖范围及销售渠道；

持续投资技术并致力将VeSync发展为一个家庭物联网平台。

同时， VeSync也提到会进一步增强消费者领域的产品组合，尤其是智能家居设备。

在北美销售占比很高的情况下， VeSync仍然计划扩大现有主要市场（包括北美、欧洲及日本）的市场份额。截至2020年末，其已与电商运营商（如亚马逊、其他销售智能家居设备及小家电的知名美国连锁零售商沃尔玛，百思买，塔吉特及Bed Bath＆Beyond）建立业务关系。此外，VeSync还计划增加自有网站的销售，扩展VeSync应用程序销售产品。在自己熟悉的领域深耕。

去年12月，深圳大卖晨北科技母公司VeSync在港交所上市。晨北科技在业内名号响当当，根据其最新财报，2020年家电产品销售暴涨，净利润增长近760%，在业内一骑绝尘。

对比业内多家上市公司， VeSync已成为市值仅次于安克的跨境电商大卖，妥妥的行业新贵。

VeSync成行业黑马，净利润增长760%

近日， VeSync发布了2020年公司财报，不仅营收翻倍，净利润更是猛增7.6倍，业绩十分可观：

公司年收益为3.49亿美元（约合人民币22.9亿），同比增长103.0%；毛利1.52亿美元（约合人民币9.97亿），同比增长126.7%，毛利率43.7%；母公司拥有人应占溢利5472.3万美元（约合人民币3.6亿），同比增长758.8%。

VeSync的价值已经显现。3月底，行业人士“博一大叔”对部分大卖进行对比，数据包括2020年销售额和市值估值，意在比较铺货卖家和品牌卖家的价值，晨北科技排名靠前。

事实上， VeSync总市值已达169.89亿港元，约合人民币143亿，较刚上市时增长了八成。在已上市的跨境电商大卖中，其市值仅次于安克，超过跨境通（74亿）及有棵树、泽宝、通拓、价之链的母公司，一场逆袭让业内卖家看得直竖大拇指。

VeSync广受好评，其业务模式功不可没。

及时调整战略，空气净化器等家电挑大梁

VeSync主要设计开发和销售三个核心品牌，其中Levoit主打空气净化器、加湿器、香薰机等家居电器，Etekcity主打智能小家电、健康监测设备、户外娱乐产品及个人护理产品，Cosori则专注空气炸锅、电热水壶、个人榨汁机等厨房电器和餐饮用具。

随着市场竞争加剧， VeSync调整了产品策略，将重点放在空气净化器、空气炸锅等优质产品上，这些产品的毛利润较高。

2017年，Etekcity品牌产品为公司贡献的收益占比为77.7%，Levoit的收益占比只有17.2%；到2020年上半年，Etekcity的收益占比降到了28.2%，Levoit的收益占比增至46.7%，二者完成角色互换，Levoit成为公司最大、最具盈利能力的品牌。此外，Cosori的收益占比也从4.2%增长到了25%。

（图片来自Levoit网站）

2019年，其空气净化器和空气炸锅在亚马逊类别中分别排名第一、第二，为之后的销售打好了市场基础。2020年营收翻倍，VeSync归功于各种家居产品销售强劲，包括Levoit空气净化器、Cosori空气炸锅及Etekcity体重秤和智能体脂秤。

疫情让家居产品卖家成为赢家， VeSync也是其中一个。

由于美国实施居家令和其他封锁措施，公司气垫及野营灯等户外产品销售下滑；但买家消耗更多时间网购，家居产品需求及收益增长，增长部分抵消了户外的下滑，最终让VeSync年收益增至约3.5亿美元，打了一场漂亮仗。

据中信建投预计， VeSync 2021-2022年公司收入将同比增长70%和42%，归母净利润同比增长54%和44%，值得期待。

平台大卖：约96%的收益来自亚马逊

VeSync以线上销售为主，其高度依赖亚马逊，是名副其实的平台大卖。

2020年， VeSync在亚马逊上通过Seller Central计划所得收益为1.02亿美元，增加166.7%；通过Vendor Central计划产生的收益为2.33亿美元，增加23.0%。大卖通过VC得到的收益如此之高，怕是会引起一众同行艳羡！

2020年VeSync在亚马逊产生的收益约为3.35亿美元，约占其年度总销售额的96%。

值得注意的是，过去连续三年， VeSync在亚马逊产生的收益均超过了99%。

2017年、2018年、2019年及截至2019年，该公司通过亚马逊产生的收益分别约为8470万美元、1.44亿美元、1.71亿美元，分别占公司总收益的约99.4%、99.3%、99.2%。

VeSync的销售收益主要来自于北美， 2020年，其北美地区的销售高达3.02亿美元，其他销售收入来自欧洲和亚洲。

亮眼业绩之外，大卖也面临着和其他第三方中小卖家相同的问题，通过亚马逊平台销售，产生了数额不小的佣金、退货、物流费用等。

2020年，VeSync产生自销售退货和自促销回扣的退款责任为850万美元，其中产生自促销回扣的退款为790万美元。同时，公司的成品存货达到了9953万美元，接近一亿美元！

过去的一年， VeSync在亚马逊上的履约费用高达1766万美元；平台的销售佣金为1718万美元；营销和广告开支高达1227万美元。给姐夫做出的贡献巨大！

在研发方面，这家大卖也很下本钱， 2020年，VeSync的研发成本达到了1046万美元。

员工平均年薪20万，VeSync工资支出增长明显

发展迅速的公司一定离不开员工的付出。 2020年VeSync在员工工资方面的支出数额高达2083万美元，较2019年的1336万美元有了明显的上升。

据了解，截止到2020年12月31日，VeSync共有693名员工，其中583名位于中国，105名员工在美国，其他5名在其他地区。粗略计算，VeSync员工的平均年薪约为3万美元，相当于近20万元。

公司认为，能够招募和挽留有经验的员工对公司发展和增长至关重要，其也会为新员工提供培训机会。

近期VeSync对外发布消息，招募海内外2021应届毕业生。这家大卖招聘的对象主要包括职能支持类、研发技术类、供应链质量管理类、市场运营类和产品设计类。

招聘的人员类型和公司下一步布局是有一定关联的。新的一年， VeSync会进一步获取线上市场的市场份额。其计划实施以下策略：

进一步升级产品组合并扩展产品组合；

利用品牌知名度拓展地理覆盖范围及销售渠道；

持续投资技术并致力将VeSync发展为一个家庭物联网平台。

同时， VeSync也提到会进一步增强消费者领域的产品组合，尤其是智能家居设备。

在北美销售占比很高的情况下， VeSync仍然计划扩大现有主要市场（包括北美、欧洲及日本）的市场份额。截至2020年末，其已与电商运营商（如亚马逊、其他销售智能家居设备及小家电的知名美国连锁零售商沃尔玛，百思买，塔吉特及Bed Bath＆Beyond）建立业务关系。此外，VeSync还计划增加自有网站的销售，扩展VeSync应用程序销售产品。在自己熟悉的领域深耕。